Ondas Acquires Israeli Security Firm Aran Defense for 100 Million Shekels

Two weeks after appointing former Mossad chief Dedi Barnea as its global president and chairman, US-based security company Ondas continues its acquisition spree in Israel. Ondas signed an agreement to purchase the operations of Aran Defense from the publicly traded Israeli company Aran R&D for 100 million shekels. Aran R&D is expected to record a pre-tax profit of approximately 75 million shekels upon completion of the deal. After the transaction, Aran R&D will retain its existing activities in plastic and recycling technology, investments in medical startups, and software and computing services.

Prior to the announcement, Aran R&D was valued at 214 million shekels, and its stock price rose following the news. The controlling shareholders of Aran are a group of investors led by chairman Aharon Cohen, holding about 46% of the shares. The company’s CEO is Ran Satu. According to Aran’s stock exchange filing, Ondas will acquire the group’s development and manufacturing operations through the full sale of Aran Defense’s shares, a company established specifically for this transaction. The assets and activities of Aran’s development and manufacturing services division will be transferred to Aran Defense. The parties will also enter into real estate lease agreements. The deal is structured as cash-free and debt-free, with payment made in Ondas shares and is subject to regulatory approval by Israel’s Antitrust Authority.

Investment analyst Lior Wider noted that the sale involves about half of Aran’s market value, with the acquired segment generating 54 million shekels in revenue in 2025. For Ondas, which is valued at around 5.2 billion USD on the US stock market after a 145% share price increase over the past year, this marks its sixth acquisition of Israeli security operations and the first from a publicly traded local company. Previous acquisitions include Aerobotics, Apeiro Motion, Sentrycs, 4M, and a controlling stake in SPO.

Ondas recently reported record second-quarter revenues of 83.8 million USD, a 67% increase from the previous quarter and a significant rise from 6.3 million USD in the same quarter last year. However, its net loss also widened to 89.7 million USD compared to 10.8 million USD a year earlier. Adjusted EBITDA was negative 50.6 million USD for the quarter and negative 61.5 million USD year-to-date. The company raised its full-year revenue forecast to 525-550 million USD and expects to achieve positive EBITDA by the last quarter of 2027. Ondas’ leadership includes former Israeli security officials, with Barnea joining alongside retired Brigadier General Oshri Lugasi, who manages the company’s security operations.